L’Oreal North Asia has launched a luxury beauty label subbed Shihyo through third-party joint venture Loshian, under the partnership with South Korean hotels and duty-free shops operator Hotel Shilla and Anchor Equity Partners.
The brand marks L’Oreal’s first beauty brand launched through a joint venture. Inspired by “the Asian wisdom of the 24 seasons”, Shihyo is based on the naturality of 24 herbal ingredients harvested at the peak of each season.
“Rooted in an exceptional traditional wisdom and knowledge of naturality, Shihyo represents the epitome of Asian luxury beauty,” said Cyril Chapuy, president of L’Oreal Luxe.
The brand’s first flagship store is set to open its doors at The Shilla Seoul Hotel in South Korea in the coming months.
“We have full confidence that Shihyo will meet the discerning consumers’ needs with new luxury beauty routines,” said Sanggyun Ahn, managing partner of Anchor Equity Partners.
L’Oreal North Asia, accounting for more than 30 per cent of L’Oreal Group’s global sales last year, comprises five geographically and culturally connected markets of Mainland China, Hong Kong, Taiwan, Japan and South Korea.
Earlier this year, L’Oreal’s investment arm in China, Shanghai Meicifang Investment (Meicifang), bought a minority stake in the high-end Chinese niche fragrance brand Documents as part of the group’s effort to increase its influence in one of the world’s biggest beauty markets.